#比特币2026年行情展望 🔥Bitcoin Current Situation Overview: Macro stability but with some pressure, on-chain data steady and improving, short-term fluctuations won't change the long-term bullish fundamentals—target price $185,500, with nearly double the potential!🔥

What’s the macro outlook? Stable but a bit tiring

The Federal Reserve continues to cut interest rates, M2 growth remains normal, and overall liquidity is fine. That said, the recent outflow of $4.57 billion from ETFs has indeed shaken the market in the short term, with obvious selling pressure. However, the progress of the CLARITY Act is crucial—once major banks truly enter the market, institutional capital will flood in, and the market will shift from "de-risking" to "re-risking."

What does on-chain data show? Buying support has stabilized at the bottom

The $84,000 level has established a solid bottom. $98,000 is the short-term holder cost basis, and the main resistance now is at this level. Indicators like MVRV-Z show that the market is within fair value, neither in a bubble nor panicking, indicating a healthy consolidation. The overall structure is sound; short-term fluctuations won't change the long-term trend.

Where does the $185,500 target come from?

Starting from $145,000, adjusted for macro factors (interest rate cut cycle + M2 growth + expectations for the CLARITY Act) with a +25% margin, we set the $BTC target price at $185,500. From the current price, there’s nearly 100% upside potential. The market may continue to fluctuate in the short term to digest ETF outflows, but once institutional buying resumes and the bill is passed, prices will break out of the consolidation zone and initiate a new upward wave.

A couple of final words

Macro stability + neutral to slightly bullish on-chain + gradual realization of institutional expectations—$BTC is not at a high point now; it’s a phase of accumulated potential. Short-term volatility cannot stop the long-term upward trend, and the $185,500 target clearly shows room for growth. Instead of panicking, it’s better to patiently wait for the true bottom confirmation. By 2026, Bitcoin is not "too expensive," but "still early."